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Wednesday, April 11, 2012

Random Soundbites From Ten Companies Operating in Oklahoma; Some Interest to Those In the Bakken

NewsOK.com provides short sound bites from ten companies attending recent luncheon talking about regional plans (in Oklahoma City. They spoke to a packed house at Quail Creek Country Club):
  • Chesapeake: most active driller in the US; 161 active rigs last year; ramp up to 165 this year; going through "massive reallocation effort" to shift its focus to oil and liquids rich resource plays; "soon" CHK will have just 23 rigs drilling for gas
  • SandRidge Energy: has completed its switch to oil and liquids; 23 rigs and ramping up to 33 rigs; southern Kansas is in play; will drill 384 horizontal wells in the Mississippian oil play (northern Oklahoma and southern Kansas)
  • Devon Energy: almost all wells being drilled are horizontal; "oil is king"
  • Apache Corp: will also ramp up operations in Oklahoma and Texas Panhandle; doubled its acreage with acquisition of Cordillera Energy Partners; will also keep promoting natural gas
  • Linn Energy, Unit Corp, SM Energy, and QEP Resources complete the ten that attended the luncheon, updating their activity in Oklahoma
Without question, CHK is the one to watch.  I believe CHK has one rig in North Dakota (it owns a subsidiary with additional rigs in North Dakota, so I have to be careful how I write that); it plans to ramp up to 165 rigs (almost all will be drilling for oil); CHK has 100's of thousands of acreage in North Dakota; there are not a whole lot of oily plays in the US right now: Bakken, Utica, Eagle Ford, Niobrara?
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4 comments:

  1. AnonymousApril 11, 2012 at 1:14 PM

    Another oily play that is starting to attract attention is the Mississippi Lime in Kansas and Oklahoma. I believe Chesapeake has massive acreage in this area.

    http://www.cnbc.com/id/46993343

    Another one commonly mentioned is unconventional Permian Basin oil.

    ReplyDelete
    Replies
    1. Bruce OksolApril 11, 2012 at 1:17 PM

      Thank you for the link. Yes, after all these years of blogging, I'm finally learning where all these Basins are. Smile.

      Delete
  2. AnonymousApril 11, 2012 at 1:30 PM

    I think there are a lot of folks waiting to see the results of the Chesapeake wells coming off the confidential list in May. With all the uproar over them leaving and not paying out leases...then they permitted another well, it's really hard to figure out what is going on with them in ND.

    ReplyDelete
  3. Old OilApril 11, 2012 at 8:44 PM

    I would not hold my breath for the wells coming off the confidential list. I would like to know how many acres they realy hold. I think where they drilled they paid the leases and will try to hold others by unit boundaries. It is not good for North Dakota or it's lease holders. Hope they sell out and go elsewhere.

    ReplyDelete

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